Core Scientific, Inc. (NASDAQ:CORZ) Insider Todd M. Duchene Sells 60,000 Shares

Core Scientific, Inc. (NASDAQ:CORZ - Get Free Report) insider Todd M. Duchene sold 60,000 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $11.33, for a total value of $679,800.00. Following the completion of the transaction, the insider now owns 2,100,102 shares of the company's stock, valued at $23,794,155.66. The trade was a 2.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Core Scientific Stock Up 1.6%

Shares of Core Scientific stock traded up $0.20 during trading hours on Friday, hitting $12.13. 6,080,924 shares of the company's stock traded hands, compared to its average volume of 13,201,223. Core Scientific, Inc. has a twelve month low of $6.20 and a twelve month high of $18.63. The company has a market cap of $3.61 billion, a PE ratio of -2.25 and a beta of 6.66. The stock has a 50 day simple moving average of $8.89 and a 200-day simple moving average of $11.58.

Core Scientific (NASDAQ:CORZ - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.10) EPS for the quarter, beating analysts' consensus estimates of ($0.12) by $0.02. The business had revenue of $79.53 million during the quarter, compared to analysts' expectations of $92.04 million. The company's revenue for the quarter was down 55.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.78 EPS. As a group, equities research analysts predict that Core Scientific, Inc. will post 0.52 EPS for the current year.

Institutional Investors Weigh In On Core Scientific

Several institutional investors and hedge funds have recently made changes to their positions in CORZ. Vanguard Group Inc. boosted its stake in shares of Core Scientific by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 20,578,100 shares of the company's stock worth $148,985,000 after acquiring an additional 1,199,448 shares in the last quarter. Beryl Capital Management LLC raised its holdings in shares of Core Scientific by 24.3% during the fourth quarter. Beryl Capital Management LLC now owns 18,179,586 shares of the company's stock worth $255,423,000 after acquiring an additional 3,548,396 shares in the last quarter. Driehaus Capital Management LLC raised its position in Core Scientific by 112.1% during the fourth quarter. Driehaus Capital Management LLC now owns 10,264,204 shares of the company's stock valued at $144,212,000 after acquiring an additional 5,424,901 shares in the last quarter. FMR LLC lifted its stake in shares of Core Scientific by 2,937.7% in the 4th quarter. FMR LLC now owns 7,436,229 shares of the company's stock valued at $104,479,000 after purchasing an additional 7,191,428 shares during the last quarter. Finally, Fred Alger Management LLC boosted its holdings in Core Scientific by 46.7% in the first quarter. Fred Alger Management LLC now owns 6,473,552 shares of the company's stock worth $46,869,000 after purchasing an additional 2,059,985 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CORZ shares. Oppenheimer initiated coverage on shares of Core Scientific in a research note on Wednesday, May 14th. They issued an "outperform" rating and a $15.00 target price for the company. Citizens Jmp upgraded Core Scientific to a "strong-buy" rating and set a $15.00 price target for the company in a report on Thursday, May 22nd. Needham & Company LLC reiterated a "buy" rating and set a $16.00 target price on shares of Core Scientific in a research report on Friday, May 16th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $17.00 price objective on shares of Core Scientific in a research note on Friday, May 9th. Finally, Cantor Fitzgerald lowered their target price on shares of Core Scientific from $24.00 to $21.00 and set an "overweight" rating for the company in a report on Thursday, February 27th. Eighteen investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $18.33.

Core Scientific Company Profile

Core Scientific, Inc provides digital asset mining services in North America. It operates through two segments, Mining and Hosting. The company offers blockchain infrastructure, software solutions, and services; and operates data center mining facilities. It also mines digital assets for its own account; and provides hosting services for other large bitcoin miners, which include deployment, monitoring, trouble shooting, optimization, and maintenance of its customers' digital asset mining equipment.